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Meeting roundup: trustees approve minutes, ratify expenses and distributions; board hears budget and premium tax update
Summary
At the Jan. 14 meeting trustees approved minutes from Oct. 15, 2024; ratified expenses and distributions already paid; received an administrative budget report for Dec. 31; and heard a presentation on the 2024 supplemental premium tax distribution. All procedural votes passed by voice vote.
The Firefighter Pension Board handled routine business at its Jan. 14 meeting: trustees approved minutes from Oct. 15, 2024; ratified expenses and distributions already reflected in the distribution report; and received an informational administrative budget report for the period ending Dec. 31.
A plan representative explained the 2024 supplemental premium tax distribution (described in the meeting as the “center 175 premium tax monies”), which is an excise tax on insurance companies' casualty portion of property insurance premiums within the city limits; the supplemental distribution can vary year to year and helps offset the city's contribution to the plan. Trustees discussed that future distributions could change if property values or insurance coverage change in the city.
Motions below were taken by voice vote and approved during the meeting.
